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Aloha
Market Update
In December the median price of a single family home rose to $700K, the highest it has been since 2006, 27% higher than the median home price of $550K in 2015. Economists predict home prices to continue to rise throughout the year.
The main factors driving prices up are the low inventory, low interest rates and we are currently in our "peak season." Many homes are receving multiple offers which further drives up prices and atests to the issue of low inventory.
Many local residents and fixed income buyers are priced out of the market. A lot of buyers are from California or other parts of the West Coast and are buying as investments and second homes with cash. We have seen less Canadian and Japanese buyers than in years past though Korean buyers are now showing an interest in the Maui real estste market.
There were 1,076 single family home sales in 2016. The most were in central Maui, at 346 sales it was 14% lower than 2015. Sales in Kihei increased 10% to 162 single family home sales. Maui Meadows increased sales by 25% and Lahaina increased 31%. The highest priced single family homes were in the Wailea/ Makena area with a medain sales price of $2.8M.
The condo market increased 10% overall over 2015 with 1,310 sales at a median price of $415K. Kihei had the highest number of condo sales at 457. We can anticipate a slow, steady and progressive year.
Have a wonderful week,
Lindsey for The Smith Team
Ken, Melissa, Greg and Lindsey
P.S. - Since Earth Day 2016 The Surfrider Foundation has certified 100 Hawaii restaurants as Ocean friendly. This certification recognized restaurants leading the way in environmental protection by operating without foam and plastic. Recognized Maui resaturants include, Tin Roof, Maui Brewing Company, Honolua Farms Cafe and Market Fresh Bistro.
Melissa Smith R (B), Ken Smith R (S), Gregory Smith R(B), Lindsey Taylor R (S)
Market Watch
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Active
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Pending
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Sold
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Change
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Homes
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537 (320)
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188 (36)
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1059 (219)
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-4 |
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Condos
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835 (204)
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212 (27)
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1311 (174)
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+4
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Land
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368 (145)
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37 (8)
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166 (22)
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+6 |
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Total
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1740 (669)
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437 (71)
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2536 (415)
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+6 |
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1. The numbers in parentheses reflect the number of listings over $1M
2. Sold listings are for the previous 12 months.
3. Change is the increase or decrease in number of active listings from the previous week.
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Homes Over $1M
480 Hoolawa Road
Haiku
$1.199M (FS) |
Peace and quiet, completely off-the-grid sustainable living. Just 10 minutes off Hana Highway and just past Twin Falls you find the most amazing community, Huelo and this special ocean side home. Seamless indoor/outdoor feeling created by the plethora of wrap-around and clerestory windows in this beautiful 3 bed, 2.5 bath home.
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61 Hoawaa Way
Wailea
$1.675M (FS) |
This Wailea gem adjoins the wide, lush greenbelt at the South end of this gated community with a walkway that leads you towards Keawakapu Beach. Entertain at home, relax by the pool, take a swift ride down the newly added rock slide, or refresh yourself under the waterfall. It is single level living where the ambiance of the outside flows in through the expansive Fleetwood doors in this 3 bed, 3 bath home.
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108 Pua Niu Way
Lahaina
$3.299M (FS) |
Pass through the gated entry and down the long private drive to find this stunning Hawaiian contemporary home situated on a frontline bluff lot in the Launiupoko area of west Maui. This brand new 4 bed, 4 bath luxury home features the latest finishes and features.
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Homes Under $1M
1632 Haiku Road
Haiku
$490K (FS) |
Welcome to this well maintained home in lush and beautiful Haiku, close to West Kuiaha and the Pauwela Cannery. This 2 bed, 1 bath home is super sweet, clean and offers a fantastic screened-in lanai to take advantage of indoor/outdoor living.
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126 Luakaha Circle
Kihei
$595K (FS) |
Move in ready, fully fenced, 3 bed, 2.5 bath home in a cul de sac location. Piilani Village is one of Kihei's sought after neighborhood, conveniently located within a one mile radius to Safeway Center, Kihei Aquatic center, Kamalii Elementary School, Azeka Centers, Tech Park, and everything in between.
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43 Noolu Street
Kihei
$612.9K (FS) |
Piilani Villages II is a great neighborhood and this single story 3 bed, 2 bath home is really clean and very well maintained. The living area has a vaulted ceiling with ceiling fans and a sliding door to the side patio area, the kitchen is a good size with lots of work area and wood cabinets and a window over the kitchen sink for nice natural light.
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11 Hakalani Place
Wailuku
$699K (FS) |
Large home on a huge lot, approx. 12,715 sq ft. Maunaleo Subdivision is a well established neighborhood, built in 2005 these homes were exceptionally designed. High ceilings throughout the 4 bed, 3 bath home. Floor plan is a modern design that fits today's family life style. View of the ocean, harbor and Haleakala sunrises from master bedroom.
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283 Haulani Street
Pukalani
$729.5K (FS) |
Beautiful, brand-new, never lived in 3 bed, 2.5 bath home on half an acre. fantastic views of both shores for great sunset viewing. Haulani Street is a great neighborhood close to shopping, schools, sports facilities, medical care, and restaurants.
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419 Ilikahi Street
Lahaina
$775K (FS) |
Like new, and completely remodeled inside and out, 419 Ilikahi is a rare offering in one of West Maui's only beachside residential neighborhoods. Super clean with modern taste, this 3 bed, 2 bath, singly family home is located on the Southern end of Lahaina and situated steps from Front Street and access to one of West Maui's best beaches/surf breaks.
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Vacation Condos Over $1M
Honua Kai Konea #229
Kaanapali
$1.599M (FS) |
Direct ocean views from every window. This unique 2 bed, 2 bath residence is situated directly in the center of the peaceful inner courtyard of the Konea Tower and overlooks the fire pit below. Slide open the oversized glass lanai doors and enjoy the well furnished 475 sq ft lanai complimenting your overly spacious living area all with a view of the island of Lanai in the distance.
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Polo Beach Club #608
Wailea
$2.175M (FS) |
This exceptional 2 bed, 2 bath Polo Beach residence is beautifully renovated, bright, light and open with granite counters, tile & carpet flooring and lustrous Koa cabinetry throughout. Poised high on the fresh and cooler North side, Polo 608 offers grand ocean views encompassing "front yard" sandy beaches, the West Maui mountains and the island of Lanai.
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Wailea Ekahi #15C and B
Wailea
$3.1M (FS) |
Absolutely unique, one-of-a-kind 3 bed, 4 bath unit on the green belt in wonderful Wailea Ekahi. Original townhouse owner bought the downstairs studio, next door, gutted it, removed the kitchen, put in a full bath and two Murphy beds and turned into a combination family room/third bedroom for when the grandkids come.
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Vacation Condos Under $1M
Kihei Akahi #DG01
Kihei
$289K (FS) |
At Kihei Akahi you'll also be right in the hub of a walkable community of restaurants, health food stores, shopping and the best of ocean activities. Theis upgraded unit features 18 inch granite travertine tile floor, bamboo kitchen cabinets, granite kitchen counter and bathroom vanity counter tops. Remodeled top to bottom.
Customer Listing Synopsis
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Luana Kai #D105
Kihei
$475K (FS) |
This unit is located front row in the very popular Luana Kai Complex. Oceanfront, beach is just steps away. Relax and enjoy the gorgeous views and sunsets while sitting on your lanai enjoying your coffee or happy hour cocktail. This charming 1 bed, 1 bath ground floor unit expands to the outdoors to allow for the full tropical paradise to be felt from the inside.
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Maui Parkshore #116
Kihei$499K (FS)
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Fantastic location in South Kihei with beautiful oceanviews and convenient to everything. Unit 116 is a fabulous end unit with numerous remodel upgrades. First floor for easy access and wheelchair accessible. Beautiful new granite countertops and designer tile and hardwood flooring throughout. With a few exceptions, this 2 bed, 2 bath unit is offered furnished with vacation rental bookings transferred to new owner.
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Maui Sunset #A305
Kihei
$569K (FS) |
Nice 2 bed, 2 bath unit at the oceanfront Maui Sunset. Enjoy ocean views from your 113 sq ft lanai. This third floor unit faces the inner courtyard.
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Residential Condos
Kehalani Gardens #2102
Wailuku
$399K (FS) |
Welcome to this 3 bed, 2.5 bath, 2-story unit at Kehalani Gardens. Here you will find beautiful tile flooring on the lower level, accent tile in the half bath creating a spa-like feel and beautiful granite counter tops in the upstairs bathrooms. There are two parking spaces close by for your convenience, as well as a storage room.
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Wailea Fairway Villas #C101
Wailea
$599,894 (FS)
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Beautiful and peaceful Wailea Fairway Villas. Located on the Blue Golf Course and close to Wailea Gateway, The Shops of Wailea and Wailea Town Center. The C-building is located on a beautiful grassy knoll and is set in the Northwest corner of the complex. This lovely 2 bed, 2 bath end unit has additional side windows.
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Kai Malu #34A
Wailea
$1.349M (FS) |
Uniquely situated on the point of a cul-de-sac capturing open and expansive mountain and garden views, this location with an exclusive driveway creates a sense of privacy one would only experience in a private residence. This very popular 3 bed, 3 bath floorplan with master bedroom on the ground floor is move-in ready and immaculately furnished!
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Na Hale O Makena #D201
Makena
$1.88M (FS) |
This spacious 2,116 sq ft, 3 bed, 2.5 bath, luxury condo comes exquisitely furnished, accented by warm tones throughout. The gourmet kitchen features granite counters tops, Snaidero cabinetry and has been transformed with upgraded Sub-Zero refrigerator and Wolf appliances including gas cooktop, wall oven and microwave drawer.
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Vacant Land
307 Ainahou Place
Wailuku
$169K (FS) |
Zoned R-1 Single Family Residential, this lowest priced lot in all of Wailuku is waiting for you to build your custom home. Located on a side street just off where Lower Main and Mill Streets meet in Wailuku, it's off the main road and yet a very convenient location. Currently no water meter in place though County water is available.
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0 Door of Faith Road
Haiku
$325K (FS) |
Located at Door of Faith Rd, this vacant lot offers many opportunities to build your private retreat, farm, or grow tropical fruits and plants all on this off the grid 3.3 acres. In the past, part of the lot has been used to raise Taro and many varieties of tropical foliage. A small stream runs along the back end of property.
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995 Anapuni Place
Kaanapali
$460K (FS) |
The lowest priced half acre lot in Lanikeha. The lots that are in front of you already have homes built on them, so you know your view! No having to calculate peak roof elevation of the lots between you and the ocean. The photos where taken at the mid-point of the lot.
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